Here are some things you can do right now to keep living retirement on your terms.

Choose and organize your accounts

Organizing your finances today is an important step for the future peace of mind of you and your beneficiaries.

Learn retirement basics	Take action
Organize your accounts Consider consolidating accounts Learn about your account options	Inform a beneficiary of legal or financial records, PIN numbers, passwords and other information. Throw out old paper statements or bills. Shred the discarded documents to keep them out of the hands of identity thieves. Identify all your accounts by looking through the statements you receive, both on paper and online. Register for online accounts and automate transactions whenever you can.

Maximize your savings

You may be living off your savings but there are still steps you can take to make the most of your current and future assets.

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Manage your taxes How to make your savings last Determine whether to work full- or part-time	Become aware of any changes in tax laws — they may affect your portfolio if, for example, capital gains rates rise or fall. Make sure you have at least a three to six month cash reserve. Determine an appropriate withdrawal rate for your assets with your financial advisor. If you need additional income, consider working in retirement.1

Manage your investments

You have many choices to make about how your investments can continue to support you throughout a long retirement.

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Asset allocation, diversification and risk tolerance Stay invested for the long term Roth IRA conversion Review your beneficiaries Adjust your financial plan as needed	Review your risk tolerance and asset allocation. Adjust your portfolio to ensure that it's still diversified. Contact your financial advisor to help you with your investments. Make sure your beneficiary designations reflect your wishes.

Define your expectations

It's important to continue to refine your goals and expectations after you retire.

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Review your retirement expectations Understand the emotional stages of retirement Prepare for unexpected events Assess your family obligations	Reflect on your retirement experience with a friend or in a journal. Write down goals that you have for the rest of your retirement and review it with your financial advisor. Plan to talk to your spouse or family members about how you might handle unexpected events.

Balance your retirement income and expenses

Managing your income sources and expenses in retirement can be tricky. How can you continue to sustain your lifestyle?

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Balance your income and expenses Income from retirement savings Income from Social Security Required Minimum Distributions (RMDs) Evaluate your expenses Health care costs Gifting opportunities	Identify your sources of income and know when you can withdraw from the various accounts. Track your expenses to be sure your retirement savings will last through a long retirement. Take Required Minimum Distributions (RMDs) if you're age 70 1/2 or older.

¹ Earned income may reduce your Social Security benefits depending on your age and income level. Social Security benefits may also be subject to income tax.

Here are some things you can do right now to prepare.

Choose and organize your accounts

Do you know what you have and where it is? Getting organized can help you see the big picture.

Learn retirement basics	Take action
Organize your accounts Consider consolidating accounts Learn about your account options	Inform a beneficiary of legal or financial records, PIN numbers, passwords and other information. Throw out old paper statements or bills. Shred the discarded documents to keep them out of the hands of identity thieves. Identify all your accounts by looking through the statements you receive, both on paper and online. Register for online accounts and automate transactions whenever you can.

Maximize your savings

Now is the time for you to save as much as possible. Take advantage of key savings and contribution strategies to help you get there.

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Maximize your contributions Make catch-up contributions Saving strategies	If you're age 50 or older, make catch-up contributions to applicable accounts. Set up automatic contributions to your retirement plans. Review your savings plan with your financial advisor. Make sure you have at least a three to six month cash reserve.

Manage your investments

The closer you get to retirement, the more decisions you'll need to make about your investments.

Learn retirement basics	Take action
Monitor your accounts regularly Asset allocation, diversification and risk tolerance Invest for the long term Establish a retirement income strategy Net Unrealized Appreciation (NUA) tax strategies Roth IRA conversions	Review your risk tolerance and asset allocation. Adjust your portfolio to ensure that it's still diversified. Discuss a retirement income strategy with your financial advisor, including a withdrawal plan. If you have company stock in your plan, determine if there are tax benefits available to you if you plan your distributions appropriately.

Define your expectations

Continue to refine your retirement goals and expectations, including when you plan to retire.

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Determine your retirement age Envision your retirement lifestyle Understand the emotional stages of retirement Prepare for unexpected events Assess your family obligations	Begin to think about when you can officially retire. Write down your goals for retirement and review with your financial advisor. Talk to your spouse or family members about how you might handle unexpected events. Think about family obligations and take into account that you may support aging parents or adult children.

Balance your retirement income and expenses

Start planning for your living needs in retirement, including your projected income and expenses. If you foresee an imbalance, you have time to make adjustments.

Learn retirement basics

Take action

Balance your income and expenses Required Minimum Distributions (RMDs) Income from retirement savings Prepare to collect your pension When to begin collecting Social Security Consider your expenses Anticipate health care costs Gifting opportunities

Look into Social Security and determine when you want to apply for benefits. Start to think about health insurance. Find out if your company provides any coverage, and if they don't, look into Medicare. Consider purchasing long-term care (LTC) insurance now — the younger you are, the cheaper it is. If you have a pension, find out your distribution options from your employer. Project your retirement expenses to determine whether your retirement income will cover them.

Here are some ways to start saving and investing now for a secure and rewarding retirement.

Choose and organize your accounts

Exploring your retirement account options and organizing your finances is a good place to begin.

Learn retirement basics	Take action
Organize your accounts Consider consolidating accounts Learn about your account options	Throw out old paper statements or bills. Shred the discarded documents to keep them out of the hands of identity thieves. Track down all your accounts by looking through the statements you receive, both on paper and online. Register for online accounts and automate transactions whenever you can. Review your retirement balances and accounts and potentially consolidate some of them.

Maximize your savings

Time is on your side — and key savings and contribution strategies can help you take advantage of it.

Learn retirement basics

Take action

Start saving now Maximize your contributions Saving strategies

Contribute as much as you can, as often as possible. When you get a pay raise, increase the contribution to your accounts before you get used to the extra money. Set up automatic contributions to your retirement plans. Take advantage of employer matches if given the opportunity. Make sure you have at least a three to six month cash reserve. Track your expenses for one or two months to determine what your daily expenses are — then figure out where you can save more.

Manage your investments

As you build your portfolio, you'll need to understand the basics and make adjustments as needed.

Learn retirement basics	Take action
Asset allocation, diversification and risk tolerance Invest for the long term Managing employer stock in retirement accounts Roth IRA conversions	Assess your risk tolerance and asset allocation. Don't be tempted to pull out of the market. Make sure your investments are diversified, especially if your employer plan includes company stock. Contact your financial advisor to review your investment plan. Consider opening an IRA for additional savings.

Define your expectations

Start thinking about your retirement goals and expectations, including when you hope to retire.

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Explore your age of retirement Create your retirement vision Understand the emotional stages of retirement Prepare for the unexpected	Write down your goals for retirement to give you an idea of the lifestyle you're saving for. Discuss how you might handle unexpected events with your family and financial advisor. Think about when you might like to retire and check in with your financial advisor to discuss your retirement plans.

Retirement income and expenses

Your savings today will form at least a portion of your income in retirement.

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Retirement income and expenses	Understand how you'll receive income in retirement so you can plan your savings and investments accordingly.